bluebird bio (BLUE) Shares Down 5.3%

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Shares of bluebird bio Inc (NASDAQ:BLUE) traded down 5.3% during mid-day trading on Monday . The company traded as low as $118.19 and last traded at $119.60. 657,589 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 794,144 shares. The stock had previously closed at $126.33.

A number of analysts recently issued reports on the company. BidaskClub upgraded bluebird bio from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Piper Jaffray Companies reiterated a “buy” rating on shares of bluebird bio in a report on Thursday, August 2nd. Cowen reiterated a “buy” rating on shares of bluebird bio in a report on Friday, November 2nd. Cantor Fitzgerald set a $122.00 price target on bluebird bio and gave the company a “sell” rating in a report on Monday, August 6th. Finally, Janney Montgomery Scott upgraded bluebird bio from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $209.74.

The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of -15.51 and a beta of 2.31.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Thursday, November 1st. The biotechnology company reported ($2.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.90) by $0.17. The company had revenue of $11.50 million during the quarter, compared to analyst estimates of $6.90 million. bluebird bio had a negative return on equity of 31.50% and a negative net margin of 1,326.02%. bluebird bio’s revenue was up 49.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.73) earnings per share. On average, equities research analysts predict that bluebird bio Inc will post -10.57 earnings per share for the current year.

In other bluebird bio news, insider Jeffrey T. Walsh sold 20,000 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $175.40, for a total transaction of $3,508,000.00. Following the completion of the sale, the insider now owns 44,238 shares in the company, valued at $7,759,345.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Philip D. Gregory sold 1,800 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $137.38, for a total value of $247,284.00. Following the sale, the insider now owns 31,971 shares of the company’s stock, valued at approximately $4,392,175.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,859 shares of company stock valued at $7,159,367. 3.00% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Casdin Capital LLC increased its position in shares of bluebird bio by 37.9% during the second quarter. Casdin Capital LLC now owns 200,000 shares of the biotechnology company’s stock worth $31,390,000 after purchasing an additional 55,000 shares in the last quarter. Vident Investment Advisory LLC increased its position in shares of bluebird bio by 37.0% during the second quarter. Vident Investment Advisory LLC now owns 13,501 shares of the biotechnology company’s stock worth $2,119,000 after purchasing an additional 3,643 shares in the last quarter. Bank of America Corp DE increased its position in shares of bluebird bio by 26.6% during the second quarter. Bank of America Corp DE now owns 155,890 shares of the biotechnology company’s stock worth $24,467,000 after purchasing an additional 32,724 shares in the last quarter. DAFNA Capital Management LLC acquired a new position in shares of bluebird bio during the second quarter worth $628,000. Finally, Jennison Associates LLC increased its position in shares of bluebird bio by 1.9% during the second quarter. Jennison Associates LLC now owns 512,740 shares of the biotechnology company’s stock worth $80,475,000 after purchasing an additional 9,677 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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bluebird bio Company Profile (NASDAQ:BLUE)

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.

Further Reading: Retained Earnings

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